B.Riley FBR analyst Craig Kucera maintained a Buy rating on Bluerock Residential Growth (BRG) today and set a price target of $11.50. The company’s shares opened today at $9.13.
Kucera said:
“We are maintaining our Buy rating and our $11.50 price target on REIT, Inc. (BRG) but reducing our earnings estimates modestly, with our 2018 and 2019 AFFO declining by $0.01 each (to $0.71 and $0.83, respectively), and we now assume flat margins through 2019 and ~$160M of acquisitions in 4Q18. BRG is a multifamily REIT with a portfolio located predominantly in the in addition to a portfolio of multifamily properties, the company also invests in a number of development projects via mezzanine loans as a preferred equity holder.”
According to TipRanks.com, Kucera is a 4-star analyst with an average return of 4.3% and a 59.9% success rate. Kucera covers the Financial sector, focusing on stocks such as NexPoint Residential Trust Inc, Urstadt Biddle Properties Inc, and Consolidated-Tomoka Land Co.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bluerock Residential Growth with a $11 average price target, representing a 20.5% upside. In a report released today, Boenning & Scattergood also maintained a Buy rating on the stock with a $10.50 price target.
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Based on Bluerock Residential Growth’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $402K. In comparison, last year the company had a GAAP net loss of $4.07 million.
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Bluerock Residential Growth REIT, Inc. operates as a real estate investment trust. It engages in acquiring apartment properties. The company was founded on July 25, 2008 and is headquartered in New York, NY.
